Market Editor Analyzes One Sided Stock Boom Versus Rails
The piece argues that speculative buying has favored industrial war stocks while railroad shares remain underpriced. It compares highs and spreads between 20 rails and 12 industrials, notes only two war stocks hit new highs, and explains why rails, coppers, and major industrials stay near normal values despite a broad bull market.
MENTIONED IN THIS ARTICLE
Standard Railroad
General Motors
United States Rubber
Topenense
Ceess
Bovis
Medageiel
American Car & Foundry
Central Leather
American Smelters
Anaconda
General Electric
National Lead
United States Steel Common
Allis-Chalmers
Baldwin Locomotive
Bethlehem Steel
Colorado Fuel
Crucible Steel
Lackawanna Steel
New York Air Brake
Pressed Steel Car
Republic Iron & Steel
Westinghouse
United States Steel
Points in Yesterdays Markets
Total sales for yesterday and year to date in New York and Boston are listed with the most active issues. Kresge and General Motors show notable gains and losses in New York, while Mergenthaler and Calumet & Hecla lead Boston movements.
MENTIONED IN THIS ARTICLE
New York
Boston
Steel
Kresge
General Motors
Mergenthaler
Calumet & Hecla
Reactionary market drifts amid wartime shares declines
New York trading opens with reactionary pressure on war shares despite new high marks for some issues. Rumors of accidents trigger drops in Baldwin Locomotive and peers, later recovered partially. totals show heavy selling, short interest, and weak support. Bethlehem Steel and Continental Can set notable gains at best prices.
MENTIONED IN THIS ARTICLE
Bethlehem Steel
Wall Street
New York
Baldwin Locomotive
Crucible Steel
General Electric
Westinghouse
Continental Can
General Motors
United States
Railroads Bypass Dividend Trust Amid High Capital Costs
The text notes investors shun steady railroad dividends as earnings fall and many railways face bankruptcy. High Anglo French loan yields and dear capital limit borrowing, while banks hold idle cash ripe for speculation. Cheap money and war orders fuel speculative fever, delaying investment in railroads until speculators learn inflation lessons.
MENTIONED IN THIS ARTICLE
United States
Boston Market Reacts Mildly to New York Declines
The Boston market showed only small declines amid a sharp reaction elsewhere. Rumors swirl about a merger between Inspiration Consolidated and Anaconda, valuing Inspiration near 50 dollars. Granby Consolidated reports 929000 net profit. Isle Royale sets records with September output above 1,000,000 pounds. Dividends rise at Miami Copper and St Marys Mineral, while Charlestown Five Cents Savings Bank hints at a 21 4 percent next dividend.
MENTIONED IN THIS ARTICLE
Boston
New York
Inspiration Consolidated
Anaconda
Inspiration
China
Granby Consolidated
Miami Copper Company
St. Mary’s Mineral Land Company
Isle Royale
N.ei
Y. Cen
Pan
West T & T
Abmeek Ees
Alaska Gold
Algomah Seeeraeee
Allouez Sd
Ag Chem
Amoskeag E
Arizona Com
Eee
Gulf
Gulf Ai
Bonanza
Ae Alba
Bos Ehre Ae
Bos & Lowell
Bos & Maine Veves
Butte & Sup
Cal & Arizona
Cal & Hecla
Fast Boston
East Butte
Edison Ec
Kerr I
Mcklwain ‘Ipf
Maine Central
Mass I Leo Pf
Mass Gas
Mass Gas E
Mergenthaler
Miami
Michigan
Mohawk
Nevada
New Arcadian
NY & NE
Nipissing
North Butte
Old Colony
Old Dominion
Osceola
Pullman Co
Ray Coneel
Santa Fe
St Mary’s
Shattuck-Aris
Bly
South Lake
South Utah
Sup & Bos
Superior Cop
Swift & Co
Tamarack
Torrington
Trinity
Tuolumne
United Fruit
UN Shoe
Moby
US Smelt m
U § Steel Cie
U S Steel Pf
Utah Apex
Utah Consol
Utah Cap Co
Ventura Oil
West
St End
Peseee
Wes
eBtern Union
Ei Ad Ms
Winona Bieces
Wollaston Seeeae
Wolverine
Beacere
Boston Stocks Prices From Benton Stock Exchange
The high, low and fast prices of securities detail on the Benton Stock Exchange with comparisons to the previous close.
MENTIONED IN THIS ARTICLE
Boston
Benton Stock Exchange
Cotton markets report for October 5
The market summary notes total sales of 3.795 million dollars, up from 3.433 million yesterday but below 5.438 million the prior week. Year to date totals stand at 619.311 million dollars, higher than the 425.573 million recorded at the same point last year.
Steel Merger Talk Surges In New York Rivalry
Negotiations to acquire Pennsylvania Steel by Bethlehem Steel spark talks of a larger merger amid potential control deals for Cambria Steel. Rumors tie Charles M. Schwab and H. C. Frick to rival plans against William F. Corey and the Midvale group as postwar demand fuels consolidation.
MENTIONED IN THIS ARTICLE
New York
Pennsylvania Steel Company
Bethlehem Steel Corporation
Cambria Steel Company
Bethlehem-Pennsylvania
United States Steel Corporation
Wall Street
Charles M. Sewab
H. C. Frick
William FE. Corey
Midvale Steel Company
Messrs
Corey
Schwab
Bethlehem
Midvale
Money markets and exchange rates report
Current quotations show call loans at 3 percent for both brokers and outside brokers, commercial loans 4 to 6 percent, collateral loans 4.5 to 6 percent, and commercial paper 3.4 to 4 percent. Year money at 4 percent. silver at $4.08 and Mexican dollars at $5.28. Clearing house and Sub Treasuries report exchange and debit gains, with foreign exchange easing and afternoon rates: sterling cables at 4.70 and 4.701, francs 5.77, marks 3.34, guilders 0.409 16, lire 6.20.
MENTIONED IN THIS ARTICLE
New York
Boston Reserve Bank
Saae
Bsaerson
Isle Royale Production to Break Records This September
Isle Royale output for September will exceed previous records by producing over 1,000,000 pounds from rock with under 15 pounds refined. City Treasurer Slattery has borrowed $500,000 at 2 percent interest to follow. Total city borrowings this year stand at $8,250,000 and mature early in November.
MENTIONED IN THIS ARTICLE
Isle Royale
Slattery
Rates Raised on Odd Stock Lots in New York
New York stock exchanges impose a new charge of one quarter of one percent to buy odd lots of securities. The change, agreed by odd lot dealers, aims to curb heavy odd lot trading fuelled by wartime speculation. The standard one eighth percent below last quote selling fee remains unchanged.
MENTIONED IN THIS ARTICLE
New York
Stock Exchange
Am. Coal Products Declares Stock Dividend
American Coal Products Company declares a 5 percent stock dividend for common stockholders of record likely October 20 with a yet undecided record date. Directors also set a 13 4 percent regular dividend on common stock payable in December with record December 24. Books close December 24 and reopen January 3. Regular 13 4 percent dividend on preferred stock payable January 15 to holders of record January 10.
MENTIONED IN THIS ARTICLE
American Coal Products Company
Anaconda Copper Mining Co
Broadway
New York
Anaconda Copper Mining Company
Bisioss
Josh
H. Melin
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Congress St
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Devonshire Street
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New York Stock Exchange
Pine St
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